VideoFinancial Legacy of Slavery and Jim Crow Era
Black Americans’ first step toward experiencing the American Dream is to first believe the American Dream is for them too.
Black Americans and The American Dream
Humans are born without knowledge of the physical world. According to Sigmund Freud psychoanalysis theory known as the “Iceberg Theory” humans’ self-concept is formed between birth and ages 7-8. It is conceivable that during these formative years Black youth learn about America, form a view of America, and their role in it. Black and White Americans’ initial source of financial education is most often family members for both groups.
Many Black Americans’ ability to experience the American Dream is masked by the injustice of slavery and the Jim Crow era. In the slave owners’ minds, Black slaves were no more than farm animals. There was no need to teach farm animals how to read, add, subtract, or how to manage money, so there was no need to teach slaves either. Black people’s initial source of financial education, from their parents, was inferior to Whites. Not because of White people living today or that White people are smarter, but because of White people who enslaved our ancestors and oppressed Black Americans with Jim Crow laws. This denied slaves basic financial knowledge to pass on to their descendants. Even today, the injustice of slavery and Jim Crow is deeply embedded in the subconscious of Black Americans. To the point it distorts many view of America and limits their ability to pursue the American Dream with confidence.
Ever since the signing of the 1964 Civil Rights Act, Black Americans have had the same rights as White Americans to pursue the American Dream. There is a significant number of Black Americans experiencing the American Dream today. Many of them are people just like you. They are not professional athletes, entertainers, lottery winners, business owners, or receivers of a large inheritance. They just applied time tested proven financial techniques that are available to every American, Black Americans too. We are going to share with you today several of those wealth building techniques, and show that Black Americans’ first step toward experiencing the American Dream is to first believe the American Dream is for them too. Next, Black people should know that White people living today are not the primary source affecting Black Americans’ ability to build wealth.
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